USD/JPY TECHNICAL OUTLOOK : 10.10.2016
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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USD/JPY. Pair after opening at 103.97 and made high of 104.00 and was trading with positive bias but after the non farm the pair violated the supports of 103.50 and had a strong selling pressure through out the day ,so 104 will act as a strong resistance going ahead for the day rise shall be utilized t o sell the pair
Fundamental Overview
Yen is trading at 103.00,appreciating against the US dollar after the weaker than expected nonfarm payrolls data. There was no major news from the Japanese economy and YEN acted as a perfect proxy for the US dollar, depreciating above 104 before the NFP data and then retreating as markets digested the data released. Japanese markets are closed today for health-sports day and even the currency is likely to have limited movement with chances of further appreciation against the US dollar.
NIFTY Fut : BUY ZONE
BANKNIFTY FUT : BUY ZONE
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USD/JPY. Pair after opening at 103.97 and made high of 104.00 and was trading with positive bias but after the non farm the pair violated the supports of 103.50 and had a strong selling pressure through out the day ,so 104 will act as a strong resistance going ahead for the day rise shall be utilized t o sell the pair
Fundamental Overview
Yen is trading at 103.00,appreciating against the US dollar after the weaker than expected nonfarm payrolls data. There was no major news from the Japanese economy and YEN acted as a perfect proxy for the US dollar, depreciating above 104 before the NFP data and then retreating as markets digested the data released. Japanese markets are closed today for health-sports day and even the currency is likely to have limited movement with chances of further appreciation against the US dollar.
